Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $4,100 (that had cost $3,030) and accepted the customer's Suntrust Bank Card. Suntrust
Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $4,100 (that had cost $3,030) and accepted the customer's Suntrust Bank Card. Suntrust charges a fee. April 12 Sold merchandise for $5,200 (that had cost $3,370) and accepted the customer's Continental Card. Continental charges 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. Note: Round your answers to the nearest whole dollar amount. View transaction list Journal entry worksheet
Levine Company uses the perpetual inventory system. Apri1 8 sold merchandise for $4,160 (that had cost $3,030 ) and accepted the customer's suntrust Bank Card. Suntrust charges a fee. April 12 Sold merchandise for $5,2ee (that had cost $3,370 ) and accepted the custoner's continental Card. Continental charges 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. Note: Round your answers to the nearest whole dollar amount. Journal entry worksheet Sold merchandise for $4,100 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before creditsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started